PVH Corp., Li & Fung Form New Strategic Supply Chain Partnership

(RTTNews) - Apparel company PVH Corp. (PVH) announced late Thursday that it has entered into agreements with Hong Kong-based Li & Fung Limited for a new supply chain relationship.

The transaction is expected to close on July 1, 2017.

The agreements transform the current non-exclusive buying agency agreement between them into a new strategic partnership. Under the deals, Li & Fung will provide additional value-added services to PVH.

The agreements also provide for the cessation of the existing non-exclusive buying agency agreement between them. The new supply chain relationship would be mutually beneficial to both companies and will focus on applying the latest technology and knowhow into the PVH supply chain.

Li & Fung is engaged in consumer goods design, development, sourcing and logistics.